Transport · Logistics · Freight

Audit in transport & logistics –
expertise with groups – European and Polish operators

I audit transport and logistics companies with a deep understanding of the sector: freight service billing, vehicle fleet as fixed assets, IFRS 16 lease accounting, and reporting requirements for European capital groups (including HGB).

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Projects in transport & logistics

20+

Years of experience

Standards: PAS & HGB

100%

Experience with European groups

Logistics company audits

HGB reporting

European groups in Poland

Fleet & IFRS 16 leasing

Freight & warehousing

Transport service billing

Logistics contract accounting

Projects from transport & logistics sector

Selected case studies – transport & logistics

Projects for Polish logistics companies operating as part of European capital groups.

HGB package audit – European logistics group

Situation

Polish subsidiary of a large European logistics group, required to report under both Polish Accounting Act and HGB (Handelsgesetzbuch) for group consolidation purposes.

Action

Full statutory audit under PAS and preparation of an HGB consolidation package for the European head office. Reconciliation of differences between standards, verification of intra-group settlements for transport services.

Result

Complete audit documentation plus HGB package delivered within the group's deadline. Seamless consolidation at head office level.

HGB package delivered on time – consolidation without issues

Audit of a Polish logistics company

Situation

Independent Polish logistics company offering warehousing, freight, and transport services. Complex revenue structure across multiple service lines, large vehicle fleet as a key asset.

Action

Financial statement audit with particular focus on fleet valuation (fixed assets, leasing), revenue recognition from logistics contracts, and assessment of provisions for contract losses.

Result

Unqualified opinion. Recommendations on fleet depreciation policy and lease accounting accepted by management.

Unqualified opinion – recommendations implemented

Industry challenges

Key accounting challenges in transport & logistics

Fleet leasing under IFRS 16

Hundreds of vehicles and trailers under operating leases – IFRS 16 implementation, distinguishing leases from short-term rentals, and depreciation of right-of-use assets.

Reporting to head office under HGB or IFRS

Polish subsidiaries of European groups often report simultaneously under PAS and the group standard (HGB, IFRS, US GAAP) – reconciling differences is a constant part of finance work.

Revenue recognition from logistics services

When is revenue from a transport service recognised? Agent or principal in freight? IFRS 15 requires precise definition of the control transfer point.

Fleet valuation and impairment testing

Fleet ageing, changes in vehicle market values, and environmental requirements (EURO standards) affect useful lives and the need for write-downs.

Long-term customer contracts

Multi-year logistics contracts with indexation clauses, minimum volumes, and penalties – their classification and measurement of contractual liabilities require special attention.